Aconite, a leading global provider of smart card payment solutions announced today an arrangement with CUETS to deliver enhanced card payment services in Canada.
A national supplier of advanced payment systems and services to credit unions, caisses populaires, cardholders, merchants and clients in Canada, CUETS is working with Bell ID and Aconite to implement EMV technology to its existing portfolio of card services.
As part of the relationship with CUETS, Aconite is delivering its award-winning EMV Script Processor (ESP) solution, an easy-to-deploy solution that enables the generation and delivery of updates or 'scripts' to an EMV card base. Aconite's ESP solution was chosen in partnership with Bell ID, and is in addition to a current consulting engagement between Aconite and CUETS that began in the summer of 2006 to support the organization in their migration to EMV - incorporating an initial EMV strategy through training, testing, implementation and exploitation of their smart card program going forward.
In line with CUETS' commitment to continually provide its customers with new and cutting edge payment solutions, ESP will enable CUETS to deliver customer service scripts to manage the use of the chip card after it is issued. The solution also provides a flexible platform for the introduction of innovative card products in the future.
The program will enable CUETS' customers, primarily Canadian credit unions and caisses populaires, to quickly and easily migrate to EMV card issuing, avoiding the costly replacement of legacy systems and allowing them to be amongst the first financial institutions in Canada to migrate to EMV. It will also help CUETS maximize their EMV investment at each stage of the migration life cycle.
Brian Guillemin, Vice President, CUETS Chip Centre of Excellence, said "Aconite's unique blend of software and consulting positions the company perfectly to assist CUETS with our EMV migration program. Our aim in choosing Aconite was to utilize their experience in implementing proven software combined with the renowned expertise of their consultants to deliver a tightly focused EMV migration pacackage with minimum cost, risk and disruption to our existing card payments business."
Mike Woods, CEO of Aconite said: "This is one of a number of key project wins for Aconite in Canada over the last year following our strategic acquisition of Smart Commerce Inc in late 2005. CUETS' decision to implement our EMV Script Processor is testament to the expertise that we have demonstrated in delivering our EMV Migration solutions worldwide. We are pleased to add CUETS to our growing number of customers in the region."